Office move and bear spreads

We have been moving into a new office for the last week and a half and I have not had any time for my writing šŸ™‚

I have been day trading the S&P 500 and was very lucky in my IBM position which became very profitable in the end.

A quick update on the S&P.

I am currently tracking two counts where both of them are pointing to a top around where it is now. The first count is the triangle shown below.

And the second count is the more bearish one below.

Yesterday was not a very strong down day so I am still considering the possibility for the markets to move a little bit higher. I established a small Bear Put Debit Spread yesterday in the May 18th puts of the S&P 500 mini from 2630 to 2610.

Happy trading!

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